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from going over that fiscal cliff next week, which would send taxes soaring while slashing spending. >>> meanwhile, hollywood has something to celebrate as we close out 2012. it's been a very big year in the movies, with the number of tickets sold in the u.s. up for the first time in three years. the domestic box office take is set to hit a record $10.8 billion, with ticket sales up 5.6%. quite an accomplishment in the age of impressive home theaters. >>> meanwhile, when we come back, travelers weren't the only ones fed up with holiday deals. what an angry pilot had to say to his passengers about the matter. >>> also, proof that you do not have to be a kid to get excited over your christmas present. you really have to stay tuned for this. the family behind this viral video is sharing their joy. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- with the keu
crashing down if we do in fact go over the fiscal cliff? up next i ask an expert. he has good news for us on gas prices to look forward to ahead. david: tom kloza is one of the smartest guys in the i will listen of the plus your tax dollars could be used to buy up more risky loans. is this another boondoggle you will end up paying for? liz macdonald has been tracking it. she has the details you don't want to miss. it will make you mad but you want to hear it coming up. david: here's your fox business brief. it was another down day for the markets as retailers took a post-holiday hit. with only five days left before the fiscal cliff washington is preparing for another round of wheeling and dealing tomorrow. at the closing bell the dow finished 24 points lower to 13,114. >>> treasury secretary tim geithner warning we will reach the debt ceiling by december 31st but geithner did say $200 billion worth of kind of wiggle room could be found, quote from extraordinary measures that would normally buy them two extra months. >>> toyota agreed to pay a billion doll to settle a class-action lawsuit
to fly back to washington in the next few urs to tr to scrape out a fiscal cliff deal but hope is fading fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff wasn't bad enough, now critical ports across the u.s. could be brought to a standstill starting this weekend. we'll explain how a looming union worker strike could sink businesses across the united states. >>> the major sports leagues do a touchdown dance after a federal judge's ruling. their lawsuit to spike sports gambling in new jersey get as crucial green light but new jersey isn't taking it sitting down. details how that state is fighting back and preparing to give vegas a run for its money. even when they say it's not, it's always about money adam: thank you for joining us. we want to look first at the day's market headlines. stocks slid for the 30 straight session. mediocre holiday seas and deadlock over fiscal cliff gave investors little to get excited about. the dow fell 24 points. the so
the response is out of washington with the fiscal cliff it is going to slow the economy next year. raising of taxes, cutting down of government spending will decrease economic growth, gdp growth which calculations -- shibani: we're predicting a slowdown but predicting a rise in currency in u.s. dollar. how does that -- >> good question. for safety. the bond market everyone is bearish on the bond market because interest rates should go up but in all reality the commercials have positioned themselves for short-term move down which we had. going back to neutral again and the open interest which is how many contracts are exposed to this trend or hedge are at the lowest level in years. usually you will get higher open interest of the market is going to move in the direction lower and the bond market is signaling that things are not going to be worked out and the economy will slow down the u.s. currency strengthens when there is nervousness around world which relates to the stock market going down. byy the fiscal cliff, the debt ceiling -- shibani: the fiscal cliff -- >> cash is king. next you m
the fiscal cliff, consumers think next year we'll see higher taxes and lower entitlements. the only place in our space where we see a very significant fiscal cliff hit is aspirational customer, so the step-up customer into low-end tiffany's jewelry, for example, we just don't think they showed up this year. >> even if people, stacy, are going to be hit by higher taxes next year, at least some people are going to be hit by higher taxes next year, a lot of this is psychological, isn't it. you turn on the tv and you're feeling spooked, right? and once we have a deal or resolution, uncertainty taken away, will people unleash their spending? will this be unlocked? >> i think at the high end, yes, there will be some relief, and, you know, to laura's point, we were in tiffany over the weekend, you would be shocked how much sales help was available on the silver floor. typically you can't get near a sales person there. >> right. >> but a lot of it is psychological, but then again, christmas has come and gone and the full-margin products have come and gone. you fix the fiscal cliff and go into cle
the fiscal cliff. with only three days to go, our next guest says it's not falling over the cliff we should be worried about, it's how much the landing is going to hurt. brian mcginnis is the head of the campaign to fix the debt, president of the committee for responsible budget and joins us this morning from washington. maya, good morning. what do you mean by that? what are you trying to say when you talk about the landing hurting the most? >> well, the point is that the fiscal cliff is a deadline and it's an important deadline that's there to help us focus on getting a big debt deal. the sad state of play is that it appears they're not going to be successful in that. they're not going to be able to replace the cliff with a big, comprehensive debt deal that's big enough to help fix the fiscal challenges of the country. but what's even additionally troubling now is that we may actually go over the cliff. and the fact that we are going to, because of partisan fighting, and an unwillingness to tackle these challenges, do something that is really going to harm the economy and harm all of us. i
because of the "fiscal cliff." if you are on extended unemployment, those checks could also disappear by next friday. with no deal in congress, the jobless benefits end. and for those depend on the on those extend and unemployment checks on a weekly basis, right now will be the time to ration food since it's still not certain that there are benefits coming next week. and for those trying to plan ahead for anyone about to pass, the inheritance cast could shoot up to 50% if we go over the cliff. and not to mention the stock market, we all know that investors do not like uncertainty. so really hitting us from all sides. >> it's like we have one foot over the cliff already. >>> did you give thought to the "fiscal cliff" when doing your christmas shopping? many americans did because cbs 5 reporter mike sugerman tells us retail numbers weren't good. >> reporter: i'm at union square which is mobbed. it's swinging. i spent the day here and it didn't get active until a couple of hours ago and as i look around, i don't see a lot of people with bags. i'm not sure they're shopping. but the retail
cliff and their plans for the next year. we will continue with the forecast for the housing market with the chief economist with the national association of realtors. fall by more discussion of the fiscal cliff negotiations -- followed by more discussion of the fiscal cliff negotiations. and a discussion on background checks. how they work, who gets them, and when they are required. our guest is matt bennett with the third wayl . on "washington journal" at 7:00 a.m. >> kent conrad is retiring. the north dakota democrat talk about partisanship in the senate and his time working on economic issues including his service on the bulls simpson commission. -- bowles-simpson commission. this is 30 years. fulle're talking in a week o of farewell speeches. what is that like? >> it has been great. i have that going away party the night before. a lot of my colleagues were there. then the farewell speech in which i had a chance to reflect on my service here but also to challenge my colleagues to finish the job on the grand bargain to get our fiscal house in order and i laid out the specifics on
on the fiscal cliff? doubt it, but we'll see next. >>> welcome back to "worldwide exchange." i'm kelly evans. ross westgate is away. these are your headlines from around the world. president obama and congress return to work today with little progress seen on the deal to avoid the fiscal cliff while the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government vows to battle deflation and weaken the currency. export stocks rise pushing the nikkei towards it's strongest gain in seven years. and toyota moves higher after the car dealer settles a class action lawsuit. analysts say the $1 billion payment is already priced in. >> it was a pretty quiet trading session in the u.s. yesterday. retail stocks were one of the market's worst performers. we were just discussing the outlook for holiday sales coming in weaker than first expect. today, trying to cover some of those losses. similar small gains seen for the s&p. the nasdaq was a little lower the last time we checked in. roughly flat now.
on the fiscal cliff some time in the next four days and 14 hours. that's coming up at 11 a.m. "squawk on the street" will be right back. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> second day in a row retailers led the losers list. simon who can is here with what is coming up at 10. >> we will talk about where the markets are going to go from here, fiscal cliff, positioning for 2013 and kim co-on the program, one of the biggest owners of american malls. how are they faring as america spikes again? apple, a four-year low, they are experime experiments, carl, as you mentioned with curved glass. >> simon, looking forward to see you. >>> chicago drive mayors ring in the new year with reluctant, starting in january, they will be shelling out more for downtown parking meters than drivers in any other city across the country. the cost to park at a metered spot will rise to $6.50 a hour, double what drivers paid in 2008. so
debacle next. tracy: washington cannot agree on a plan for the fiscal cliff. we go to the nation's capital after break. let's take a look at how the dollar is faring against foreign currencies as we head to break. ♪ with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. lori: the senate returns to washington tomorrow. with just five days to address the dreaded fiscal cliff. peter barnes is live in d.c. with the very latest. peter: everyone looking to leader harry reid and the president for plan c. they were discussing next steps to advert the cliff before the holiday on monday. no update today from the white house. a spokesperson for senator reid is saying "nothing to report. no conversa
agree to it but it's all tied up in the fiscal cliff mess. tax filing season starts next week but the irs would put a hold on that for some. officials would wait for a deal in the new year instead of doing serious reprogramming to their tax system. filing would then be pushed back to march for millions. with refunds coming much later than usual. especially for those who plan on paying off credit card bills that often pile up after the holidays. now all of this could be avoided a deal before the deadline monday night but some long time lawmakers fear it won't happen, more on that when i see you next. live in washington. >> oil prices started edging up arch the president announced he would return from vacation early so he could work on fiscal cliff negotiations. crude oil sells for almost $91 a barrel up nearly two dollars a barrel. it's expected to increase as hope rises that a budget deal can be reached before the deadline and that could keep the economy growing while no agreement may put the united states back into recession. >> several states are under blizzard warning thi
the double deadline. hoping to get a deal in the next few days to avoid going of the fiscal cliff. hallie jackson has more. >> the treasury is making moves. otherwise we have the debt limit on monday. that is the last day of fiscal cliff talks. the president departed hawaii to return to washington, where it is not just the temperature that is chillier. talks cooled over the holidays over how to avoid the massive tax hikes. they are set to begin in just a few days. >> taxes are going to go up no matter what. they could go up a lot more, and that is where the political hit comes. >> house republicans point the finger at the other chamber, saying the senate must act on a bill to avoid the fiscal cliff. a spokesman for harry reid some are blaming the gop for the holdup. no further legislation can move unless republicans drop their knee-jerk obstructionism. if the country falls off the fiscal cliff, it may feel gradual at first, except on wall street. >> the reaction from the financial markets and the stock markets -- you could see something quick. >> a top ceo is hoping to jolt them into acti
to the fiscal cliff may be brewing. but wait until you hear where the latest push is coming from. you will be surprised. stay with us. two minutes away. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ they don't help single moms. hi! hi! [ sarah ] what happened to our house last year? [ daughters ] it flooded and the water flooded out. yeah. [ sarah ] the red cross arranged the hotel for us. they gave me that break, that leverage, to be able to get it together and take care of them. you know? i feel like we've come full circle. [ daughter 1 ] like that! [ daughter 2 ] this is how i'll do it. [ sarah ] there you go. >> starbucks sending a strong message to lawmakers who can't seem to compromise to avoid the fiscal cliff. employees are writing the word "come together" on company's coffee cups. starbucks said it's a message to lawmakers about avoiding the fiscal cliff. they said the elected of
a slowdown next year if the fiscal cliff isn't resolved. or a lot of the concerns that we have about europe or whatever. is that fair? >> i think that's fair. i think the slowdown is baked in the cake. we've already seen deceleration from the third quarter, which 3% is a distant memory for gdp growth, as we look at the fourth quarter and first quarter. so i think we're dealing with a slowdown, even if they have some resolution to the fiscal cliff. i think the difference between next year, 2013, and this year, is if you think about what we were dealing with coming into the year in the beginning of 2012, people are concerned about the breakup of the euro, imminent u.s. recession, they were saying, china hard landing. so when some of these things didn't happen, all we needed last year, this year, was less bad in the market. i think in 2013, we're going to need to see better economic growth as the year moves forward. because, as you say, the market is reasonably valued. but it's not cheap. and i think to jason's earlier point, there are some stocks out there that are very, very attractive. but
look at next week and the fiscal cliff presumably happening, going over it, john boehner is supposed to be re-elected speaker on next thursday. >> on the 3rd, yeah. >> is that going to change everything and he's going to say, to hell with this right-wing tail wagging my dog, i don't need you guys anymore? >> no, because the house isn't the only theater of this. there's the senate, of course. we talked briefly about this earlier, but mitch mcconnell has a senate election in 2014. and if there's been one thing that's been noted over the past year, it's these crazy senate challengers have the chance of knocking off a person in the primary. and i'm assuming that mitch mcconnell knows that. >> this is great. this is great. we love this. tension at the convention of both ends of pennsylvania avenue, the white house, congress. this is terrific stuff. kurt, stay with us, okay? can you. we're begging you, begging you. >> you're adding gravitas to this. >>> we'll also bring in nbc news political director, chuck todd, also nbc white house correspo corresponde correspondent. >>> first, dylan dre
to the fiscal cliff may be brewing. but wait until you hear where the latest push is comingll be . stay with us. stay with us. [ cellphone chirping ] [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. we can live without the &. we've dided to we're all having such a great year in the gulf, put aside our rivalry. 'cause all our states are great. and now is when the gulf gets even bett. the beaches and waters couldn't be more beautil. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don't forget our amazing seafood. soome to the gulf, you'll have a great time. especially in alabama. you mean mississippi. that's florida. say louisiana or there's no dessert. brought to you by bp and all of us who ca the gulf home. >> starbucks sending a strong message to lawmakers who can't seem to compromise to avoid the fiscal cliff. employees are writing the word "come toget
into effect. >>> starbucks is trying to do what it can to urge a "fiscal cliff" compromise. the coffee chain is asking employees at its cafes in the d.c. area to write the words "come together" on cups for the next two days. starbucks plans to continue the effort on social media. >>> encouraging signs in the housing market. home prices rose in most major cities in october up more than 4% from a year earlier and october was the fifth straight month of year-over-year gains. taking a look at the big board now, you can see that stocks are down today in a light trading session. you can see the dow is down about 9 points. >>> a bay area family and the season of giving. how the kindness of strangers helped save a family's injured dog. ,,,,,,,,,,,,,, donors for saving their dog. c-b-s-5 reporter christin ay >>> a you can bay area couple is thanking -- a young bay area couple is thanking anonymous donors for saving their dog. christin ayers shows us how strangers saved the dog and the family's christmas. >> come on, babe. >> reporter: it was two weeks to christmas when nick and lindsey anderson real
sales was uncertainty about the fiscal cliff, tax hikes and spending cuts set to take effect next year. if lawmakers don't reach a deal to avoid it consumers could see higher taxes eating into their paychecks. even online sales suffered compared to past years of double-digit growth this year online holiday sales rose only about 8% compared to nearly 16% last year. lack of consumer confidence means this shopping season could be the weakest since the recession in 2008 when sales actually shrank. >> consumers need to have more confidence. right now it's more of an uncertain way for the first half of 2013 so i think everyone has thought going into the year. >> for businesses, the holiday shopping season officially ends december 31st, and retailers are hoping to salvage some profits by offering deep discounts until then. the president of the national retail federation is still optimistic. he estimates holiday sales growth will be about 3.5% to 4% this year. rebecca and jeff? >> thanks elaine. it's interesting, macy's and target report next week so we're going to hea
markets next. we will see if there is a new word there about the fiscal cliff. we found some more winners on the nasdaq. ♪ with fidelity's new options platform, we've completely integrated evy step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. dagen: japan's new prime minister vowing to tighten ties with the u.s. as he works to revive the economy. some worry he will pay little attention to funds needed for growth. how does that sound familiar. the japanese market light to the news. the nikkei trading higher today. let's take a look at the ten year treasury. a gauge of how much work the federal reserve is doing by those very treasuries. it is down a little bit today. four more on that, let's bring in chris aarons from ubs. fiscal cliff, what happens to i
on the fiscal cliff standoff and how a starbucks is trying to help lawmakers come together. i hope it's by cleaning their bathrooms. really, starbucks, you can do better. next on "the five." public bathrooms are terrible. ♪ because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. [beep] [speaking foreign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me
trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people and it's why congress has 11% job approval rating. >> reporter: republican pollster frank lund says americans are fed up with gridlock in washington. >> there is no compromise and i
when president obama rolled out his new plan for steering us away from the fiscal cliff there was a word he did not say. that word was sequester. it would cut $100 billion from the budget next year, half from domestic programs and half from defense programs. and now as the deadline draws close, experts are look at these cuts from a national security standpoint and warning one final time about their impact on the safety of our service members. >> it is going to affect the operational force that is deployed in terms of its you ability to maintain its equipment and get repair parts. that force is deployed around the world. it is not just the force in afghanistan that is being reduced. it would impact on the training of the force. and its preparedness to conduct other operations. >> white house officials say it is unclear what will happen with the sequester. on friday republican senator john mccain said he doesn't see how a deal gets done without addressing these across the board cuts which could cost a lot of contractors their jobs. >> now, the large defense contractors wil
the fiscal cliff there was a word he did not say. that word was sequester. it would cut $100 billion from the budget next year, half from domestic programs and half from defense programs. and now as the deadline draws close, experts are look at these cuts from a national security standpoint and warning one final time about their impact on the safety of our service members. >> it is going to affect the operational force that is deployed in terms of its you ability to maintain its equipment and get repair parts. that force is deployed around the world. it is not just the force in afghanistan that is being reduced. it would impact on the training of the force. and its preparedness to conduct other operations. >> white house officials say it is unclear what will happen with the sequester. on friday republican senator john mccain said he doesn't see how a deal gets done without addressing these across the board cuts which could cost a lot of contractors their jobs. >> now, the large defense contractors will probably be okay. they have significant cash reserves most of them. the smaller contrac
the fiscal cliff? >>> a dangerous winter storm roaring across the eastern half of the u.s. bringing blizzard conditions and travel nightmares. plus, the nra's controversial proposal to put armed volunteers in every school, we'll go in-depth with the man in charge of the national school shield program. i'm joe johns. you're in "the situation room." the u.s. is now just six days away from the so-called fiscal cliff. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come
. president is heading back to washington. is it too late to avoid the fiscal cliff. you can't answer it because you are leaving now. we'll talk about this next. ♪ ♪ let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like lerty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love with progressive's claims service. >> juliet: good morning, everybody. it's
go over the fiscal cliff? real estate expert kendra todd weighs in on that. there she is next. >> clayton: a new last name, too, mattera, i did not know this. congrats, see you in a minute. >> thank you. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ and you learned something along the way. this is the age of knowing what you're made of. so, why let erectile dysfunction get in your way? talk to your doctor about viagra.
the fiscal cliff. still without a solid deal in place, but both the president and mitch mcconnell, the senator on the republican side, say we're close. up next, allison deans shows you what to invest in whether we have a deal or whether we fall over that edge. ♪ liz: talk about a cliffhanger, with just minutes left in the trading day, the nation's toes clinging like this, like kilroy, right? over the edge of the fiscal cliff. no deal written in stones, but the markets still believe -- 139 points for the dow jones industrials -- that there may be some type of deal. join us now, allison deans, the senior adviser at varick asset management. we brought you in because you're so good at this kind of stuff, and we thought what we should invest in there is no deal or if there is a deal. what's your mind telling you? >> i think there will be a deal. i think if it doesn't happen tonight, they'll exing tend -- extend some of the benefits, and my sense is it'll be a compromise for both parties. it's just a shame they wait until the very last minute waiting to see what will happen. li
capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate majority leader harry reid]vtkÑ lashed ot at speaker boehner accusing him of running a tar forship. >> john boehner seems to -- >> reporter: republican leaders blame democrats for the standoff and say there are limits to a compromise. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner call the house back into town for an unusual sunday session. members of congress understand the
. >> mohammed jamjoom, thank you for that. >>> fears of the fiscal cliff are taking some of the holiday cheer out of wall street. cnn's alison kosik is watching the post christmas trading. she joins us next. >>> retailers were hoping shoppers will spend big today. early figures show holiday sales slum slumped to the lowest levels in three years. alison kosik, every time i drive by the mall, the parking lot was full. every time i went in one, there were people everywhere. what is behind the weak sales this year and can post christmas shoppers really turn things around now? >> you make good points, victor. analysts are telling us there are two big factors at work here. hurricane sandy, hit holiday shopping right when it was beginning to rev up in early november. then the worries about the fiscal cliff they took over everybody's pocketbooks. people are really worried their taxes going up. so what do you get? you get holiday sales not doing too hot. holiday sales are up a little less than 1%, winds up being the weakest growth in three years. it is still early. these numbers are still rolling in.
rolling on averting the fiscal cliff. in a letter to star birks employees made public this morning, chief executive howard s \cc chultz next employees that is approximately 120 d.c. area stores to write come together on coffee cups on serving customers tomorrow and friday. starbucks plans to buy as in washington post and the new york times later in the week as part of its come together campaign. >> rumors that a second generation ipad mini with eight right now display is set to lions ahead of apple's typical annual schedule that share have been swirling. now it appears that apple's full- size ipad may be sticking to its new semi and release schedule. new reports suggest that apple's plans to launch a new standard, lauder 9.7 in. ipad as soon as march 2013. the fourth ipad model was just released last month along side the ipad mini, but march was also suggested in recent red ipad mini remorse. >> we will be right back. heavy snowfall in the sierra is causing dangerous conditions for skiers. in the past three days, two people have died and two others have been injured after being called in
. david: here it is. the highlight reel. we believe the president does want to go over the fiscal cliff. >> boehner will be in the situation, do i get democratic votes. >> this is about the little guy on the street said that the republican people are losing. the american people are losing even more. david: are we going to go into a recession if we go off the cliff? you think we will be back i am not so sure about it. if you will cut spending, that is the issue. would we go into recession if we go over the cliff and they do not restore the spending cuts?
will show it again. we have another comment from our twitter page -- "fiscal cliff would be a great disney attraction." "splash mountain meese hall of presidents." next, on the democrats' line. good afternoon. caller: yes, an industry to find out why it be government cannot balance the budget and spend -- have you ever spent your checkbook? you would go to jail. they do not. what about that? host: ok. salisbury, missouri. go ahead, please. caller: i do not understand why president obama was doing at that rally. he needs to get in his car and go on down to the capital and try to figure out this mess. he himself and the democrats and republicans all equally created it. he is a democrat and he needs to take the leadership role and he has not done that. he does most to be the cheerleader and the champion. i am tired of the democrats'. host: ok, we will go to fort lauderdale, fla.. caller: i am very disappointed that the president has failed to be, has chosen to create an environment of blame, which is not good for anyone. we did not really have this class warfare before. there is all this talk
find rather interesting, for lack of a better word about this discussion is if we go over the fiscal cliff there will be 1.2 trillion dollars in tax cuts over ten years which is $110 billion every year. so we go for the $110 billion for year one and what happens is next year congress decides to do what it wants anyway and scraps whatever plan it had in effect for the nine years anyway. so we pretend we have the big ten year plans but they never turn out to be ten year plans at all. >> that's true. but there is something looming in a month and a half and they will have to do something with the debt ceiling. whether debt ceiling should happen, whether or not we should even have something as the debt ceiling but we do and the democrats and the president have to do something about it. they know how strong it is. the republicans have a very, very powerful card to get what they want, which is basically a reduction in massive expenditures. we are up to $17 trillion in debt and something has to be done. and it has to be done quickly. and if it's not done properly, that's why i hate plan b an
whammy, sandy, newtown shootings, fiscal cliff, all these things can combine to depress shoppers' appetite to spend at this point. >> we'll talk a lot more over the next couple of hours where the discounts really came. there's a lot of talk about walmart and gap, and macy's and target. and then what that's going to meet as they try to clear out all this inventory, really starting today, going into the first part of the new year. those things have to get off the shelves. and that's going to affect margins one way or the other. >> let's bring in jackie deangelo, crunching the numbers back at headquarters. >> i'm going to recap what you said a little bit earlier. according to mastercard's spending poll, the few weeks leading up to christmas rose only .7%. a pretty big miss there. to give you perspective, after a drop of 5.5% in 2008, holiday sales have seen a steady rebound since then, including a 2% increase last year. this less than 1% figure, bound to be disappointing. online shopping also showed some muted results. spending polls show web sales were up 8.4% from last year, but t
of joe manchin as congress prepares to meet again today with the fiscal cliff looming. good morning. the deadline is here and the countdown is down two hours instead of days. the first time since 1970, congress is meeting between the christmas and new year's holiday. preparations are underway as lawmakers -- if lawmakers fail to act. we are 17 hours until the deadline. midnight is the deadline east coast time. here are the numbers. host: also, send us an e-mail and jonas on facebook, -- join us on facebook or you can send us a tweet. let's take a scan of the headlines and we begin with "the atlanta journal-constitution." a lot of talking but still no votes. the deadline has come and gone. one last day for a fiscal deal is the headline from "the boston globe." we are also keeping an eye on wall street. the markets are queasy. from the headlines "the wall street journal." host: a lot of activity on the house and senate chamber. we will be falling all of that on the c-span networks. we have the deputy white house editor from politico. tell us where we stand. guest: we stand in limbo,
in washington today to figure out an 11th-hour deal on the fiscal cliff, but what about the house, which punted on boehner's plan b. house congressman steve latourette, by the way someone who has repudiated grover norquist's pledge joins us next. >>> and mark zuckerberg's sister confused about facebook's privacy settings. we'll have the details of that ahead. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the
tax hike of this fiscal cliff negotiation is concerned. both the republicans and democrats seem very inclined to allow payroll taxes to go back up for people who earn $50,000 a year. that's $1,000 less they will take home next year, and that's real money. >> the perception is they're doing that to help those zillion nares and billionaires at the top. i mean, to add to the pain is why you may be facing the pain is for people that have no pain might have a little less pain even more. i mean, it's incredible. you know, yes, it's good to say, but saving for a rainy day is good for those not drenched with the rain. you talk about people in the rain that are going to suffer who has this whole sermon that we hear from washington of shared sacrifice when we didn't have shared prosperity. >> absolutely. but those people who actually are trying to save right now, we've got a whole enormous sector that has absolutely no rainy it day fund whatsoever. half of the americans are financially fragile. they couldn't come up with 2,000 if they needed to come up with it without selling belongings or tak
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